The Dollar Research Paper reveals that dollar-based life insurance is extremely popular in South Africa.
The paper uses data from Discovery Life ’s Dollar Life Plan, which was launched in 2014.The Dollar Life Plan allows South Africans to sign up for offshore life insurance that pays out in US dollars, and has been a huge success locally.
“Our financial advisors have been driving awareness about the opportunities available in offshore life insurance, and clients who have accepted this advice have benefited massively,” said Discovery Life Deputy CEO Gareth Friedlander.Friedlander said a key reason for the growth of its Dollar Life Plan is the fact the US dollar has strengthened by 68% against the rand over the past 10 years.
“It is possible that this trend reverses in the future, which is why diversification is the best strategy.” “When you buy life insurance, you’re protecting the needs of your family for decades to come – and these loved ones may end up studying or living overseas in the future,” said Friedlander.The Dollar Life Plan is affordable to a wide range of people, stated Friedlander, as the minimum monthly payment is $50 .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Discovery’s ‘Dollar Life’ premiums double in five yearsAs more South Africans opt for life cover that pays in dollars.
Read more »
Africa: Maths Makes Finding Bat Roosts Much Easier, Our Research ShowsAnalysis - Finding bats is hard. They are small, fast and they primarily fly at night.
Read more »
Research shows South African value saving but can’t afford to do itSouth Africans need to start saving for the long-term, rather than only the short-term.
Read more »
Tragic Discovery: Newborn Found Deceased in Tea Estate, KZNIn a devastating incident in Tea Estate, a newborn baby was discovered deceased in a bin bag along a rural road after emergency services were called by bystanders.
Read more »
RecoMed partners with Discovery Vitality to streamline bookingsRecoMed has partnered with Discovery Vitality to simplify bookings for flu vaccines and Vitality health checks.
Read more »
White paper: Three challenges of securing and connecting application servicesWhy traditional architectures fail – and how a connectivity cloud can help.
Read more »